Somewhere in the 30 cent range is probably right. The East72...

Somewhere in the 30 cent range is probably right. The East72 analysis has a good case for this valuation. However it will be very dependent on how a TO is conducted - whole or in parts. Vow is a relatively distinct business so could be more attractive to direct competitors consolidating in that part of the market. As a full business it could be attractive to someone that is in a different part of financial services such as a BNPL operation looking to break into a different part of the market or real estate business moving into a different segment - they have high valuation multiples and cash so YBR looks relatively cheap. I think 2022 could be the time as there is a first strike against the company management and big expansion promises have been made. IMO.